Datawatch and Baker Tilly Redefine How Healthcare Providers Measure and Optimize Revenue Cycle Operations

Professional Services Firm Selects Datawatch Monarch as Standard Platform for Self-Service Data Preparation, Automated Workflows and Analytics

BEDFORD, Mass., June 26, 2017 (GLOBE NEWSWIRE) -- Datawatch Corporation (NASDAQ-CM: DWCH) today announced that professional services firm Baker Tilly Virchow Krause, LLP (Baker Tilly) will tap the power of the Datawatch Monarch self-service data preparation platform to help healthcare organizations optimize revenue cycle operations for a variety of reimbursement methodologies, including value-based care strategies. Baker Tilly will employ Monarch as part of its new Revenue Cycle Innovation service offering, which has been conceived to drive true transformational change in the way that revenue cycle activities are performed. Baker Tilly's innovative revenue cycle service offering automates processes and applies advanced analytics to empower clients to achieve outcomes that are 10 times greater than standard approaches.

"Although healthcare executives place a strategic focus on revenue cycle programs and invest a lot of money in them, the return on investment is consistently much lower than what we've seen is possible. A lot of this has to do with the access to data and information being an obstacle for management teams," said Michael Duke, principal, Healthcare Consulting Practice, Baker Tilly. "Any benefits that have been achieved are often short lived and not sustainable. With the use of the Datawatch suite, especially Monarch, we enable our clients to access Revenue Cycle Process Analytics in a way that wouldn't be otherwise achievable."

Despite rapid IT advancements across healthcare back office systems, most healthcare providers still grapple with disparate revenue cycle systems and poor operational processes which drive up costs and negatively impact net revenue. They have grown tired of the false promises of their health information technology (HIT) and electronic medical record (EMR) vendors, and have seen failed investments in high-priced revenue cycle improvement services.

"Revenue cycle innovation requires new ways of solving traditional problems, and advanced analytics is key," said Andrew Malinow, PhD, director, Business Analytics, Baker Tilly. "Organizations must also begin driving workflow in an automated fashion with a much stronger understanding of the transaction level events that impact overall performance. Rapid, iterative decision-making must become the new norm. If management teams truly want to improve revenue, maximize cash flow and reduce operating costs, they need tools that are generally not found in the core EMR system-we provide them."